Viewing 6 posts - 1 through 6 (of 6 total)
  • Profile photo of luckyoneluckyone
    Member
    @luckyone
    Join Date: 2003
    Post Count: 148

    Hello All,
    I was just wondering if anyone could offer me some advice. I have found a block of shops which are returning around 20% pa at the moment. Problem is, a friend lives a few suburbs away and says that it is a very rough area. Can anyone please tell me whether you would still take on this deal, and what steps you would take for due dilligence. I’m not sure how to find out about past crime in the area, does anyone know how?
    Thanks,
    Luckyone

    Profile photo of Still in SchoolStill in School
    Member
    @still-in-school
    Join Date: 2003
    Post Count: 1,844

    Hi Luckyone,

    To be honest, i would not worry what your friend says.

    An old saying “Out with the old and in with the New” Over time, the place will clean up and improve. Many areas in Brisbane and Sydney you might remember, were well noted and heard of to be real rough areas, today many of those places still exist yet are some of the more expensive areas.

    Good Example. Inala in Brisbane, very rough at the time houses were under 50k, over a few year period the properties are now worth over 200k. Over time, things will change and improve. A good investor will see these problems and wont be discourage, cause eventually suburbs will improve, due to government bodys, government funding and big developments and investments opportunities that larger corporations and companies can see.

    If your interested in the crime area, go visit the police in that area, ask them, what is the crime rate like? Is this similar to other suburbs? What is the government doing to improve this area of crime?

    Simply questions they are, but, they can hold the answer to what is happening to that area to control and prevent the crime waves that happen.

    Cheers,
    sis

    People 4get that by saving just $3 a day & investing it sensibly
    over a working life, you’ll end up with around $1 million

    Profile photo of ian_from_brisbaneian_from_brisbane
    Member
    @ian_from_brisbane
    Join Date: 2003
    Post Count: 97

    The cost of various types of insurance compared to other suburbs can also be an indicator of the crime rate.

    Are there any vacant shops in the area by the way?

    -Ian

    Profile photo of luckyoneluckyone
    Member
    @luckyone
    Join Date: 2003
    Post Count: 148

    Thankyou SIS, I’ll take all you said onboard. I’m not sure if I’m going to buy it now as a better deal has come through since. I’ll put it on the backburner for the moment, but thanks for your advice anyway.

    Profile photo of AdministratorAdministrator
    Keymaster
    @piadmin
    Join Date: 2013
    Post Count: 3,225

    Better still, go and count the number of broken windows in the shopping centre.

    Whilst you are at it also ask how many shopkeepers have been held up during the past twelve months. [:D]

    Pisces133

    Profile photo of luckyoneluckyone
    Member
    @luckyone
    Join Date: 2003
    Post Count: 148

    Getting an insurance quote sounds like a good idea. Does anyone know where I can get a commercial quote online?

Viewing 6 posts - 1 through 6 (of 6 total)

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